The Roundness of Antiquity Valuations from Auction Houses and Sales

Auction houses employ in-house art experts to assess the value of objects. Items that will be placed on auction block are first published in catalogs with experts’ upper- and lower-bound estimates each object’s market value. This paper examines whether roundness those is related likelihood items sell their eventual hammer price. We find rounder lower reduce price perhaps also item sells. The upper estimate seems have no clear impact outcome.